In order to facilitate the local and foreign investors intending to invest in Pakistan through mergers, acquisitions, and joint ventures, the Competition Commission of Pakistan (CCP) has launched an ‘Online Merger and Acquisition Application’ filing system.
Pakistan is a compulsory merger regime where companies/undertakings seeking mergers, acquisitions or JVs, must apply for clearance from the CCP under section 11 of the Competition Act, 2010.
“The CCP, keeping in view the difficulties faced by the local and foreign investors in filing the merger applications in paper form amid the COVID-19 pandemic, has launched the online application filing system,” the commission said in a statement. “Through this system, companies can submit the required documents electronically using a predefined format through an online software application provided by the CCP.”
An undertaking anywhere in Pakistan can now request for ‘Merger and Acquisition NOC’ and also track the application online through this system, which can be accessed at CCP’s website.
Moreover, to clear the backlog of various cases pending at CCP, hearings have been resumed and keeping the health and safety of the respondents at forefront amid COVID-19, they have been allowed to participate in the hearings using video conferencing and other online tools. This week, the commission conducted two hearings using video conferencing.
For the facilitation of the general public, CCP’s online Complaint Management System is in place to facilitate the consumers and businesses in the submission of complaints regarding violations of competition law. Any complaint received at the commission is fed into the online system and a tracking number is issued to the complainant.